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Posted on: March 25, 2019

Treasury: Principal Residence Exemption Doesn’t Expire

LANSING, Mich. – The Michigan Department of Treasury is reminding Michiganders  that a Principal Residence Exemption – known as a PRE – does not expire.

Inaccurate posts being shared on social media are claiming that Michigan taxpayers will experience a surge in property taxes due to their PRE expiring  after 25 years. In return, the state Treasury Department and local assessors  are experiencing a surge in inquiries from residents who are trying to verify this misinformation or submit unneeded paperwork.

“Simply put, there isn’t an expiration date on a Principal Residence Exemption,” said acting Deputy State Treasurer Anne Wohlfert, who oversees  Treasury’s State and Local Finance programs. “Homeowners who have claimed  a Principal Residence Exemption do not have to refile the required form unless they move.”

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